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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                      L A T I N  A M E R I C A

            Monday, October 5, 2009, Vol. 10, No. 196

                            Headlines

A N T I G U A  &  B A R B U D A

STANFORD INT'L: Miami Law Firm Maybe Involved in Scandal


A R G E N T I N A

COPROMANEU SA: Creditors' Proofs of Debt Due on November 23
DESARROLLO PESQUERO: Creditors' Proofs of Debt Due on December 11
GARBARINO SA: Moody's Assigns 'B2' Corporate Family Rating
INSUCORT SRL: Creditors' Proofs of Debt Due on November 23
LOCKWOOD Y COMPATIA: Creditors' Proofs of Debt Due on December 2

SPORTGAME SRL: Creditors' Proofs of Debt Due on December 3
TECHNICAL POWER: Creditors' Proofs of Debt Due on December 10
VEZZATO SA: Creditors' Proofs of Debt Due on December 2
* ARGENTINA: Borrows US$500MM From Local Social-Security Fund


B R A Z I L

BANCO NACIONAL: Vale SA Uses Half of BRL7.3 Billion Loan Facility
BES INVESTIMENTO: Moody's Retains 'D+' Bank Strength Rating
EMPRESA BRASILEIRA: Seeks Mores Customers; Won't Close China Unit


C A Y M A N  I S L A N D S

ACM ACTIVE: Creditors' Proofs of Debt Due on October 14
ACM ACTIVE: Creditors' Proofs of Debt Due on October 14
ACM US: Creditors' Proofs of Debt Due on October 14
ACM YEN: Creditors' Proofs of Debt Due on October 14
CC28523 LIMITED: In Liquidation; Final Meeting on October 6

DB JASMINE NO. 2: Creditors' Proofs of Debt Due on October 15
DKR NEUTRINO: Creditors' Proofs of Debt Due on October 12
DKR NEUTRINO: Creditors' Proofs of Debt Due on October 12
DKR OVERLAY: Creditors' Proofs of Debt Due on October 12
DKR RELATIVE: Creditors' Proofs of Debt Due on October 12

DKR SOLSTICE: Creditors' Proofs of Debt Due on October 12
DKR SOLSTICE: Creditors' Proofs of Debt Due on October 12
GMFF CASTOR: Creditors' Proofs of Debt Due on October 14
INVESTCORP EVENT: In Liquidation; Shareholders' Meeting on Oct. 15
LEEWARD OFFSHORE: Creditors' Proofs of Debt Due on October 14

MISATO ASSET: Creditors' Proofs of Debt Due on October 14
PAGIA INVESTMENTS: Creditors' Proofs of Debt Due on October 14
PULSAR RESOURCE: Creditors' Proofs of Debt Due on October 14
REDWOOD CAPITAL: Creditors' Proofs of Debt Due on October 15
SAMURAI FUND: In Liquidation; Shareholders' Meeting on October 15

SAMURAI MASTER: In Liquidation; Shareholders' Meeting on Oct. 15
SB SCHONFELD MASTER: In Liquidation; Final Meeting on Oct. 21
SB SCHONFELD ACTIVE: In Liquidation; Final Meeting on October 21
SB SCHONFELD FEEDER: In Liquidation; Final Meeting on October 21
SICHUAN AIRBUS: Creditors' Proofs of Debt Due on October 14

VANDERBILT CDO: Creditors' Proofs of Debt Due on October 14
VANDERBILT SPECIAL: Creditors' Proofs of Debt Due on October 14


C O L O M B I A

* COLOMBIA: IDB Approves US$250MM Loan for Climate Change Program


H A I T I

* HAITI: Inter-American Development Bank Grants US$25 Million Loan
* HAITI: Foreign Investors Flock to Explore New Business


J A M A I C A

NATIONAL COMMERCIAL BANK: Invests JM$2MM in Jamaica Netball Ass.
JAMAICA PUBLIC SERVICE: 1% to 5% Tariff Adjustment Takes Effect
* JAMAICA: Extends Key Highway Network With US$70MM Loan From IDB


M E X I C O

CASA DE BOLSA: Moody's Assigns 'B2' Currency Issuer Ratings
CEMEX SAB: Completes Sale of Australian Operations
GRUMA SAB: Extends Derivatives, Loan Deadline To October 1


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Republic Bank Drops Lending Rate


X X X X X X X X

LATAM: To Receive US$250 Million for Microfinance
* BOND PRICING: For the Week October 28 to October 2, 2009


                         - - - - -


===============================
A N T I G U A  &  B A R B U D A
===============================


STANFORD INT'L: Miami Law Firm Maybe Involved in Scandal
--------------------------------------------------------
Miami law firm Greenberg Traurig allegedly helped Robert Allen
Stanford, the financier accused of orchestrating a Ponzi scheme,
establish an unregulated money pipeline to Antigua, United Press
International reports, citing The Miami Herald.

According to the report, the newspaper said in 1998 that Greenberg
Traurig helped Mr. Stanford, create a pipeline between Miami and
Antigua that became a cornerstone of the Stanford's banking
empire.  The report relates that the relationship has reportedly
been targeted by a Stanford Financial Group court-appointed
receiver, Ralph Janvey.

The report, citing The Herald, notes that Greenberg Traurig helped
Mr. Stanford set up a special trust office in Miami that could
move millions of dollars overseas without having to report
anything to the government.  The report relates that the firm also
allegedly helped the Stanford institute changes in Antigua's
banking system after a series of money laundering scandals
prompted the U.S. Treasury to consider blacklisting all offshore
institutions in the Caribbean island.

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not guilty
to 21 charges of multi-billion dollar fraud, money-laundering and
obstruction of justice.  Assistant Attorney General Lanny Breuer,
as cited by Agence France-Presse News, said in a 57-page
indictment that Mr. Stanford could face up to 250 years in prison
if convicted on all charges.  Mr. Stanford surrendered to U.S.
authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342, U.S. District
Court, Southern District of Texas (Houston). The civil case is SEC
v. Stanford International Bank, 3:09-cv-00298-N, U.S. District
Court, Northern District of Texas (Dallas).


=================
A R G E N T I N A
=================


COPROMANEU SA: Creditors' Proofs of Debt Due on November 23
-----------------------------------------------------------
The court-appointed trustee for Copromaneu S.A. Corporacion de
Productores y Materifes de Neuquen S.A.'s reorganization
proceedings, will be verifying creditors' proofs of claim until
November 23, 2009.

The trustee will present the validated claims in court as
individual reports on February 5, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 22, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on September 10, 2010.


DESARROLLO PESQUERO: Creditors' Proofs of Debt Due on December 11
-----------------------------------------------------------------
The court-appointed trustee for Desarrollo Pesquero Maritimo
Atlantico Sur S.A.'s reorganization proceedings, will be verifying
creditors' proofs of claim until December 11, 2009.

The trustee will present the validated claims in court as
individual reports on February 25, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
April 12, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on September 9, 2010.


GARBARINO SA: Moody's Assigns 'B2' Corporate Family Rating
----------------------------------------------------------
Moody's Latin America has assigned a first-time B2 local currency
corporate family rating and an A1.ar Argentina national scale
rating to Garbarino S.A.  At the same time, Moody's assigned a B2
local currency rating and an A1.ar Argentina National Scale Rating
to Garbarino's new ARS 15 million credit facility from Banco de la
Nacion Argentina (not rated).  The outlook for all ratings is
stable.

"The B2 and A1.ar ratings are underpinned by Garbarino's position
as one of the largest dedicated consumer electronics and appliance
retailers in Argentina and the diversification of its product
line, which has allowed Garbarino to increase its share of the
consumer's wallet", said Moody's AVP Analyst, Veronica Amendola.
"The ratings also reflect Garbarino's solid position in selling
recognized brand names and its well-established relationships with
suppliers.  Also positive for the ratings is that delinquency risk
for credit card purchases is assumed solely by the credit card
issuers.  Credit card sales represent a significant portion of
Garbarino's total sales and often allow customers to pay in
several monthly installments," said Amendola

Credit negatives offsetting these strengths include Garbarino's
relatively high lease-adjusted leverage of 4.3 times, since nearly
all of its retail stores are leased rather than owned, and the
challenging competitive environment, where many new entrants have
appeared over the past years, in addition to traditional
competitors.  Garbarino's low geographic diversity, relatively
small scale and its reliance on continually renewing uncommitted
bank credit lines, coupled with the persistent slowdown in the
Argentinean economy, also constrain the ratings.

Garbarino's B2 local currency rating reflects its global default
and loss expectation, while the A1.ar national scale rating
reflects the standing of Garbarino's credit quality relative to
its domestic peers.  Moody's National Scale Ratings are intended
as relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks.  NSRs in Argentina are designated by
the ".ar" suffix.  Issuers or issues rated A1.ar present above-
average creditworthiness relative to other domestic issuers.  NSRs
differ from global scale ratings in that they are not globally
comparable to the full universe of Moody's rated entities, but
only with other rated entities within the same country

The stable outlook is based on Moody's expectation that Garbarino
will continue to successfully implement its business model, even
in a more challenging macroeconomic environment, thus allowing the
retailer to maintain overall strong credit metrics for its rating
category.  The stable ratings outlook reflects Moody's expectation
that revenue growth and operating margins will recover after
weakening in recent quarters, due to cost pass through.  Finally,
the outlook is stable because Moody's expects that Garbarino will
be able to maintain adequate access to bank loans and credit card
receivable discounting facilities, even in the more adverse market
conditions.

An upgrade of the ratings or outlook could result from a
strengthening of Garbarino's competitive position across multiple
segments along with continued pricing discipline, so that margins
continue to recover.  In addition upward pressure could result
from increased size and geographical diversification, along with
an improving business environment in Argentina and a more
comfortable debt maturity profile.  Quantitatively, upward
momentum could result if Garbarino's total adjusted debt to EBITDA
is sustainable below 3 times (4.3 times as of the last fiscal year
ended October 31, 2008) and EBITDA margin above 7% (5.5% as of the
last fiscal year ended October 31, 2008).  Additionally, a more
predictable outlook for economic activity in Argentina would be
important for upward pressure.

Negative pressure on the ratings or outlook could result from a
greater than expected impact of the expected downturn in the
Argentinean economy on the availability of consumer loans.
Quantitatively, a downgrade could result from a drop in
Garbarino's EBIT margin to below 3.0% on a three-year average
basis or a significant increase in leverage, with total adjusted
debt to EBITDA of above 6 times.  Indications of a weakening
market share in the domestic retail market could also drive
negative pressure.

Headquartered in Buenos Aires, Argentina, Garbarino is one of the
largest home appliance retailers in Argentina.  With total
revenues of ARS2.7 billion and 4.100 employees as of the fiscal
year ended in October 2008, Garbarino was founded in 1951 by an
Argentinean family and has developed a well-known brand name in
the local retail market.


INSUCORT SRL: Creditors' Proofs of Debt Due on November 23
----------------------------------------------------------
Jose Maria Larrory, the court-appointed trustee for Insucort SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until November 23, 2009.

Mr. Larrory will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 21 in Buenos Aires, with the assistance of Clerk
No. 41, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.


LOCKWOOD Y COMPATIA: Creditors' Proofs of Debt Due on December 2
----------------------------------------------------------------
The court-appointed trustee for Lockwood y Compatia S.A.I.C.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until December 2, 2009.

The trustee will present the validated claims in court as
individual reports on February 17, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 31, 2010.


SPORTGAME SRL: Creditors' Proofs of Debt Due on December 3
----------------------------------------------------------
The court-appointed trustee for Sportgame S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 3, 2009.

The trustee will present the validated claims in court as
individual reports on February 16, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 30, 2010.


TECHNICAL POWER: Creditors' Proofs of Debt Due on December 10
-------------------------------------------------------------
The court-appointed trustee for Technical Power S.R.L.'s
reorganization proceedings, will be verifying creditors' proofs of
claim until December 10, 2009.

The trustee will present the validated claims in court as
individual reports on February 25, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
April 15, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on September 9, 2010.


VEZZATO SA: Creditors' Proofs of Debt Due on December 2
-------------------------------------------------------
The court-appointed trustee for Vezzato S.A.'s reorganization
proceedings, will be verifying creditors' proofs of claim until
December 2, 2009.

The trustee will present the validated claims in court as
individual reports on February 19, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
April 6, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on June 10, 2010.


* ARGENTINA: Borrows US$500MM From Local Social-Security Fund
--------------------------------------------------------------
Taos Turner at Dow Jones Newswires reports that Argentine
government has borrowed about US$500 million from fund meant to
ensure the sustainability of the country's social-security agency,
Anses.

According to the report, in the first resolution, the government
said it had issued 168-day Treasury notes on September 28 for
ARS1.35 billion (US$351 million).  The report relates that the
notes mature on March 15, 2010, and will pay an interest rate of
14.3%.

The government, the report notes, also issued US$150 million in
dollar-denominated 180-day notes carrying an interest rate of 4%.
The notes were issued on September 4 and mature on March 23, 2010.
In both cases, the notes will be traded in local markets, Dow
Jones Newswires says.

The report adds that the notes were sold to the Fondo de Garantia
de Sustentabilidad, whose aim is to guarantee Anses's funding.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 27, 2009, Standard & Poor's Ratings Services affirmed its
'B-' long-term and 'C' short-term sovereign credit ratings on the
Republic of Argentina.  The outlook remains stable.


===========
B R A Z I L
===========


BANCO NACIONAL: Vale SA Uses Half of BRL7.3 Billion Loan Facility
-----------------------------------------------------------------
Vale SA has used more than half the loan facility granted by Banco
Nacional de Desenvolvimento Economico e Social SA, Dow Jones
Newswires reports, citing Estado news agency.

As reported in the Troubled Company Reporter-Latin America on
April 3, 2009, BNDES has authorized a BRL7.30 billion credit line
for Vale SA.  According to the report, the funds will be used to
advance Vale SA's 2008-12 investment program and for projects in
Brazil.  Part of the resources will go to Vale SA's corporate
social responsibility initiatives.

According to Dow Jones Newswires, BNDES approved a BRL3.8 billion
loan for Vale's use as part of the facility on December 18, for
two projects, one in Para State and another in Espirito Santo
State.  The report, citing Estado news, BNDES has revealed it has
released BRL1.2 billion of the BRL3.8 billion loan to date.

Vale SA told Dow Jones Newswires that it had withdrawn US$587
million of the BRL3.8 billion loan account in the period January
to June this year.  The report relates that a Vale spokeswoman
said the company calculated the US$587 billion amount at BRL1.45
billion, but said the discrepancy between BNDES' BRL1.2 billion
figure was due to the way the exchange rate was calculated.

                           About BNDES

Banco Nacional de Desenvolvimento Economico e Social SA is
Brazil's national development bank.  It provides financing for
projects within Brazil and plays a major role in the
privatization programs undertaken by the federal government.

                          *     *     *

Banco Nacional continues to carry a Ba2 foreign long-term bank
deposit rating from Moody's Investors Service.


BES INVESTIMENTO: Moody's Retains 'D+' Bank Strength Rating
-----------------------------------------------------------
Moody's Investors Service downgraded to Baa2/Prime 3, from
Baa1/Prime 2, the global local-currency deposit ratings of BES
Investimento do Brasil S.A., with a stable outlook.  The rating
action concludes the review for possible downgrade on the deposit
ratings initiated in April 23, 2009.  The D+ bank financial
strength rating and the foreign currency deposit and debt ratings
of BESI Brasil (respectively at Baa3 and Baa2) were not affected
by this action, Moody's added.

Moody's noted that these actions follow the downgrade of Banco
Espírito Santo S.A.'s BFSR, and deposit and senior debt ratings
(respectively C-/A1/P-1, stable).  Moody's explained that in
assigning deposit ratings to subsidiaries of foreign owned banks,
it considers the BFSR of the parent company as the basis for its
assessment of parental support, in line with its Joint Default
Analysis methodology.  Therefore, a downgrade of Banco Espírito
Santo's financial strength rating may affect the deposit ratings
of BESI Brasil.

According to Moody's, BESI Brasil's BFSR of D+ was not affected by
the action.  Moody's sees BESI Brasil's profitability and capital
indicators as being resilient during a period of global risk
aversion, economic deceleration and tightened liquidity.

Moody's last rating action on BESI Brasil was on September 22,
2009, when Moody's Investors Service upgraded the bank's foreign
currency deposit ratings to Baa3/Prime-3 from Ba2/Not Prime and
the bank's long-term foreign currency senior unsecured bond rating
to Baa2 from Baa3, following an upgrade of Brazil's foreign
currency ceiling.

BES Investimento do Brasil S.A is headquartered in Sao Paulo,
Brazil.  In June 2009, the bank had total assets of approximately
R$3.6 billion (US$1.8 billion) and equity of R$305 million
(US$156 million).

These ratings assigned to BES Investimento do Brasil S.A. were
downgraded:

  -- Long-term global local-currency deposit rating: to Baa2 from
     Baa1, with stable outlook

  -- Short-term global local-currency deposit rating: to P-3 from
     P-2


EMPRESA BRASILEIRA: Seeks Mores Customers; Won't Close China Unit
-----------------------------------------------------------------
Paulo Winterstein at Bloomberg News reports that Empresa
Brasileira de Aeronautica SA said it is seeking more customers for
its Chinese operations and denied speculation that it will shutter
the Harbin plant as orders decline.

“We are going ahead with our investments in China,” the report
quoted Nelson Salgado, Embraer director of corporate planning, as
saying.  “China is a very important market” for Embraer, as the
company is known, Mr. Salgado added.

According to the report, Estado de S. Paulo newspaper said in July
that Company CEO Frederico Curado said Embraer is reviewing its
Chinese investment plans and may shut the plant after orders were
canceled.

Headquartered in Brazil, Empresa Brasileira de Aeronautica SA
(Embraer) -- http://www.embraer.com–- is a company engaged in the
manufacture of aircrafts for commercial aviation, executive jet
and defense and government purposes.  The Company has developed a
line of executive jets based on one of its regional jet platforms
and launched executive jets in the entry-level, light, ultra-large
and mid-light/mid-size categories, the Phenom 100/300 family, the
Lineage 1000 and the Legacy 450/500 family, respectively.  The
Company supplies defense aircraft for the Brazilian Air Force
based on number of aircraft sold, and sells aircraft to military
forces in Europe, Asia and Latin America.  In July 2008, the
Company acquired a 40% interest owned by Liebherr Aerospace SAS in
ELEB–Equipamentos Ltda (ELEB).  ELEB is an aerospace system and
component manufacturer, and its products include landing gear
systems, hydraulics and electro-mechanical sub-assemblies, such as
actuators, valves, accumulators and pylons.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 23, 2009, Bloomberg News said Embraer will lay off around
4,200 workers, which represents 20% of its 21,362 employees, and
reduced its 2009 revenue forecast by 13% due to the global
recession.


==========================
C A Y M A N  I S L A N D S
==========================


ACM ACTIVE: Creditors' Proofs of Debt Due on October 14
-------------------------------------------------------
The creditors of ACM Active Corporate – Class C Sub-Fund are
required to file their proofs of debt by October 14, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102


ACM ACTIVE: Creditors' Proofs of Debt Due on October 14
-------------------------------------------------------
The creditors of ACM Active Corporate Fund are required to file
their proofs of debt by October 14, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102


ACM US: Creditors' Proofs of Debt Due on October 14
---------------------------------------------------
The creditors of ACM US Credit Total Return Subfund are required
to file their proofs of debt by October 14, 2009, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102


ACM YEN: Creditors' Proofs of Debt Due on October 14
----------------------------------------------------
The creditors of ACM Yen Sub-Fund are required to file their
proofs of debt by October 14, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102


CC28523 LIMITED: In Liquidation; Final Meeting on October 6
-----------------------------------------------------------
CC28523 LIMITED has been placed in Voluntary Liquidation under The
Companies Law (Revised).  Pursuant to section 127 of the Companies
Law (Revised), the final meeting of the shareholders of the
company will be held at the offices of Thorp Alberga, Harbour
Place, 2nd Floor, 103 South Church Street, P.O. Box 472, George
Town, Grand Cayman KY1-1106, Cayman Islands, on October 6, 2009,
at 10:00 a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing how the
        winding-up has been conducted and how the property has
        been disposed of to the date of the final winding-up
        October 6, 2009.

     2. To approve the remuneration of the liquidator.

     3. To authorize the liquidator of the company to retain the
        records of the company for a period of five years from the
        dissolution of the company, after which they may be
        destroyed.

     4. To approve the liquidator making the necessary return to
        the Registrar of Companies.

     5. To determine the manner in which the proceeds of dividend
        cheques uncleared after six months are dealt with.

Contact for inquiries:

     Michael Alberga
     Tel: (345) 949 0699
     Fax: (345) 949 8171


DB JASMINE NO. 2: Creditors' Proofs of Debt Due on October 15
-------------------------------------------------------------
The creditors of DB Jasmine No. 2 (Cayman) Limited are required to
file their proofs of debt by October 15, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 25, 2009.

The company's liquidator is:

          Jeremy Simon Spratt
          KPMG LLP, 8 Salisbury Square
          London, EC4Y 8BB
          Jacqueline Edwards
          Telephone: +44 (0) 20 7311 8563
          Facsimile: +44 (0) 20 7694 3533
          P.O. Box 493, Grand Cayman KY1-1106
          Cayman Islands
          Telephone: 345-949-4800
          Facsimile: 345-949-7164


DKR NEUTRINO: Creditors' Proofs of Debt Due on October 12
---------------------------------------------------------
The creditors of DKR Neutrino Fund Ltd. are required to file their
proofs of debt by October 12, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


DKR NEUTRINO: Creditors' Proofs of Debt Due on October 12
---------------------------------------------------------
The creditors of DKR Neutrino Holding Fund Ltd. are required to
file their proofs of debt by October 12, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


DKR OVERLAY: Creditors' Proofs of Debt Due on October 12
--------------------------------------------------------
The creditors of DKR Overlay Co. are required to file their proofs
of debt by October 12, 2009, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


DKR RELATIVE: Creditors' Proofs of Debt Due on October 12
---------------------------------------------------------
The creditors of DKR Relative Value Plus Fund Ltd. are required to
file their proofs of debt by October 12, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


DKR SOLSTICE: Creditors' Proofs of Debt Due on October 12
---------------------------------------------------------
The creditors of DKR Solstice Fund Ltd. are required to file their
proofs of debt by October 12, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


DKR SOLSTICE: Creditors' Proofs of Debt Due on October 12
---------------------------------------------------------
The creditors of DKR Solstice Holding Fund Lstd. are required to
file their proofs of debt by October 12, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Richard Finlay
          Telephone: (345) 949-1040
          Facsimile: (345) 949-1048
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


GMFF CASTOR: Creditors' Proofs of Debt Due on October 14
--------------------------------------------------------
The creditors of GMFF Castor Fund are required to file their
proofs of debt by October 14, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 26, 2009.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Telephone: (345) 914-6314
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9005, Cayman Islands


INVESTCORP EVENT: In Liquidation; Shareholders' Meeting on Oct. 15
------------------------------------------------------------------
Investcorp Event Arbitrage Master Fund Limited SPC has been placed
in Voluntary Liquidation under The Companies Law (2007 Revision).
Pursuant to Section 145 of the Companies Law (2007 Revision), the
final meeting of the shareholders of the company will be held at
the registered office of the company on October 8, 2009, at 10:00
a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing how the winding
        up has been conducted and how the property has been
        disposed of to the date of final winding up on October 8,
        2009.

     2. To authorize the liquidator to retain the records of the
        company for a minimum of six years from the dissolution of
        the company, after which they may be destroyed.

Westport Services Ltd. has been appointed Voluntary Liquidator.

Officer for inquiries:

     Evania Ebanks
     Tel: (345) 949-5122
     Fax: (345) 949-7920
     Address for service:
     Boundary Hall, Cricket Square
     P.O. Box 1111, Grand Cayman KY1-1102
     Cayman Islands


LEEWARD OFFSHORE: Creditors' Proofs of Debt Due on October 14
-------------------------------------------------------------
The creditors of Leeward Offshore Canadian Income Fund are
required to file their proofs of debt by October 14, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on September 3, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102


MISATO ASSET: Creditors' Proofs of Debt Due on October 14
---------------------------------------------------------
The creditors of Misato Asset Management are required to file
their proofs of debt by October 14, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 26, 2009.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106, Grand Cayman KY1-1205


PAGIA INVESTMENTS: Creditors' Proofs of Debt Due on October 14
--------------------------------------------------------------
The creditors of Pagia Investments Limited are required to file
their proofs of debt by October 14, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 20, 2009.

The company's liquidator is:

          Giannakis Ermogenous
          Philip Sutcliffe
          Trident Trust Company (Cayman) Limited
          Telephone: (345) 949-0880
          Facsimile: (345) 949-0881
          P.O. Box 847, George Town
          Grand Cayman KY1-1103


PULSAR RESOURCE: Creditors' Proofs of Debt Due on October 14
------------------------------------------------------------
The creditors of Pulsar Resource International are required to
file their proofs of debt by October 14, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 13, 2009.

The company's liquidator is:

          Stuart Cory
          PO Box 218867, Houston, TX 77218


REDWOOD CAPITAL: Creditors' Proofs of Debt Due on October 15
------------------------------------------------------------
The creditors of Redwood Capital X Ltd are required to file their
proofs of debt by October 15, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 24, 2009.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands


SAMURAI FUND: In Liquidation; Shareholders' Meeting on October 15
-----------------------------------------------------------------
Samurai Fund, Ltd., has been placed in Voluntary Liquidation
pursuant to The Companies Law (2000 Revision).  Pursuant to
Section 145 of the Companies Law (2000 Revision), the final
meeting of the shareholder of the company will be held at the
registered office of the company, on October 15, 2009, at 11:30
a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing the winding-up
        has been conducted and how the property has been disposed
        of, as at the final winding-up on October 15, 2009.

     2. To authorize the liquidators to retain the records of the
        company for a period of five years from the dissolution of
        the comp-any, after which the may be destroyed.

Company Secretaries Ltd. has been appointed Voluntary Liquidator.

To contact:

    Company Secretaries Ltd.
    P.O. Box 30592
    Grand Cayman KY1-1203
    Cayman Islands


SAMURAI MASTER: In Liquidation; Shareholders' Meeting on Oct. 15
----------------------------------------------------------------
Samurai Master Fund, Ltd., has been placed in Voluntary
Liquidation under The Companies Law (2000 Revision).  Pursuant to
Section 145 of the Companies Law (2000 Revision), the final
meeting of the shareholder of the company will be held at the
registered office of the company, on October 15, 2009, at 11:30
a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing the winding-up
        has been conducted and how the property has been disposed
        of, as at the final winding-up on October 15, 2009.

     2. To authorize the liquidators to retain the records of the
        company for a period of five years from the dissolution of
        the company, after which the may be destroyed.

Company Secretaries Ltd. has been appointed Voluntary Liquidator.

To contact:

    Company Secretaries Ltd.
    P.O. Box 30592
    Grand Cayman KY1-1203
    Cayman Islands


SB SCHONFELD MASTER: In Liquidation; Final Meeting on Oct. 21
-------------------------------------------------------------
SB Schonfeld Active Managers Master Fund, Ltd., has been placed in
Voluntary Liquidation under The Companies Law (Revised).  Pursuant
to section 127 of the Companies Law (Revised), the final meeting
of the sole shareholder of the company will be held at the offices
of Ogier, Attorneys, Queensgate House, South Church Street, Grand
Cayman, on October 21, 2009, at 10:00 a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing how the
        winding-up has been conducted and how the property has
        been disposed of to the date of the final winding-up on
        October 21, 2009.

     2. To authorize the liquidator of the company to retain the
        records of the company for a period of five years from the
        dissolution of the company, after which they may be
        destroyed.

Contact for inquiries:

     Hayden Isbister
     Tel: (345) 815 1815
     Fax: (345) 949 1986


SB SCHONFELD ACTIVE: In Liquidation; Final Meeting on October 21
----------------------------------------------------------------
SB Schonfeld Active Managers Fund, Ltd., has been placed in
Voluntary Liquidation under The Companies Law (Revised).  Pursuant
to section 127 of the Companies Law (Revised), the final meeting
of the sole shareholder of the company will be held at the offices
of Ogier, Attorneys, Queensgate House, South Church Street, Grand
Cayman, on October 21, 2009 at 10:00 a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing how the
        winding-up has been conducted and how the property has
        been disposed of to the date of the final winding-up on
        October 21, 2009.

     2. To authorize the liquidator of the company to retain the
        records of the company for a period of Monday, August 31,
        2009, 1228 Issue No. 18/2009 five years from the
        dissolution of the company, after which they may be
        destroyed.

Contact for inquiries:

     Hayden Isbister
     Tel: (345) 815 1815
     Fax: (345) 949 1986


SB SCHONFELD FEEDER: In Liquidation; Final Meeting on October 21
----------------------------------------------------------------
SB Schonfeld Capital Feeder Fund Ltd., has been placed in
Voluntary Liquidation under The Companies Law (Revised).  Pursuant
to section 127 of the Companies Law (Revised), the final meeting
of the sole shareholder of this company will be held at the
offices of Ogier, Attorneys, Queensgate House, South Church
Street, Grand Cayman, on October 21, 2009 at 10:00 a.m.

The purposes of the meeting are:

     1. To lay accounts before the meeting showing how the
        winding-up has been conducted and how the property has
        been disposed of to the date of the final winding-up on
        October 21, 2009.

     2. To authorize the liquidator of the company to retain the
        records of the company for a period of five years from the
        dissolution of the company, after which they may be
        destroyed.

Contact for inquiries:

     Hayden Isbister
     Tel: (345) 815 1815
     Fax: (345) 949 1986


SICHUAN AIRBUS: Creditors' Proofs of Debt Due on October 14
-----------------------------------------------------------
The creditors of Sichuan Airbus Leasing Limited are required to
file their proofs of debt by October 14, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on August 31, 2009.

The company's liquidator is:

          Darren Riley
          c/o Ellen J. Christian
          Telephone: 345 945-9208
          Facsimile: 345 945-9210
          c/o BNP Paribas Bank & Trust Cayman Limited
          3rd Floor Royal Bank House, Shedden Road
          George Town, Grand Cayman


VANDERBILT CDO: Creditors' Proofs of Debt Due on October 14
-----------------------------------------------------------
The creditors of Vanderbilt CDO Holding Company are required to
file their proofs of debt by October 14, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Telephone: (345) 914-6314
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9005, Cayman Islands


VANDERBILT SPECIAL: Creditors' Proofs of Debt Due on October 14
---------------------------------------------------------------
The creditors of Vanderbilt Special Opportunities Holding Company
are required to file their proofs of debt by October 14, 2009, to
be included in the company's dividend distribution.

The company commenced wind-up proceedings on September 4, 2009.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Telephone: (345) 914-6314
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9005, Cayman Islands


===============
C O L O M B I A
===============


* COLOMBIA: IDB Approves US$250MM Loan for Climate Change Program
-----------------------------------------------------------------
Colombia will implement an ambitious climate change program that
includes reducing vulnerability and strengthening climate-related
institutions, as part of a financial package approved by the
Inter-American Development Bank.

The climate activities are among several measures Colombia has
pledged to carry out under the programmatic policy-based loan for
US$250 million approved by the IDB Board of Executive Directors.

Studies predict that sea levels in Colombia could rise 40 cm along
the Caribbean coast and 60 cm on the Pacific coast between 2050
and 2060 as a consequence of global warming.  Severe rainfall
variations generating flooding and drought are also anticipated
in; and likely intensification of weather phenomena such as El
Niño and La Nina.

The changes could accelerate desertification in 3.5 million
hectares of Colombia’s territory; damage road, port and
manufacturing infrastructure in coastal cities such as
Barranquilla, Cartagena and Buenaventura; and reduce hydroelectric
power generation by reducing the capacity of reservoirs.  Finally,
scientists believe climate change could increase the incidence of
transmissible diseases such as dengue fever and malaria in many
parts of Colombia.

The PBL is a flexible, fast-disbursing instrument that provides
the Colombian Treasury with resources to finance its priority
programs.  As part of its agreement with the Bank, Colombia is
implementing specific climate activities under its National
Development Plan, with results that must be verified as a
condition for disbursement of the funds.

These activities include:

    * formulation and implementation of a national climate
      change policy, with an emphasis on coordination between
      Colombia’s planning agency and productive sector
      ministries;

    * adoption of climate change guidelines by 80% of
      Colombia’s regional environmental agencies;

    * development of 15 projects to reduce green house gas
      emissions registered with the Clean Development
      Mechanism;

    * implementation of a surveillance and early warning
      system for dengue fever and malaria related to
      climate change;

    * promotion and financing of energy efficiency and
      renewable energy; and

    * two pilot adaptation projects in the health, agriculture
      or coastal area management.

This is the first of three possible PBL operations by the IDB in
support of Colombia’s climate change agenda.  The program has four
components: macroeconomic stability, institutional policy and
framework, mitigation agenda, and adaptation agenda.  Mitigation
aims to reduce greenhouse gas emissions, while adaptation consists
of preparatory steps to help cope with the consequences of climate
change.

In the program, the IDB will also assist Colombia’s efforts to
identify opportunities derived from the international efforts to
tackle climate change through carbon markets.  The IDB estimates
that increased participation in the carbon markets could represent
economic benefits of more than US$500 million per year for
Colombia.

“Colombia is taking a proactive approach that will put it on a
path toward low-carbon growth,” said Javier Cuervo, the IDB
project team leader for the operation.  “Through smart use of
available technology and increased participation in carbon
finance, Colombia is well positioned to be an active player in
projects that reduce greenhouse gas emissions without compromising
economic development.”

Colombia’s climate mitigation and adaptation efforts have received
prior financing from the IDB’s Sustainable Energy and Climate
Change Unit.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 7, 2009, Fitch Ratings affirmed Colombia's sovereign
ratings:

  -- Long-term foreign currency Issuer Default Rating at 'BB+';
  -- Short-term foreign currency IDR at 'B';
  -- Long-term local currency IDR at 'BBB-';
  -- Outstanding senior unsecured debt at 'BB+';
  -- Country ceiling at 'BBB-'.


=========
H A I T I
=========


* HAITI: Inter-American Development Bank Grants US$25 Million Loan
------------------------------------------------------------------
The Inter-American Development Bank approved on September 30 a
US$25 million grant to help Haiti continue improving its road
network and road maintenance in the southern departments of
Nippes, Grand Anse and Sud, where many areas still face
transportation problems.

The new grant, third in a series of four annual donations of $25
million each for road rehabilitation in Haiti, will help improve
transportation conditions and safety, contributing to economic
development in a region with considerable productive and tourism
potential.

The resources will contribute specifically to the rehabilitation
of 43 kilometers of secondary and tertiary roads in Haiti’s
southern peninsula, the improvement of 2 kilometers of paving and
drainage at urban crossings, the construction of two bridges over
Riviere Froide and an extension of the Miragoane lagoon.

Roads in the vicinity of Aquin, L’Asile and Anse a Veaux will be
upgraded to provide the valley of Riviere des Pins with better
access to the capital, Port-au-Prince, and other service and
commerce centers such as Les Cayes and Miragoane.  The improvement
of urban crossing in communities along the Cayes-Jeremie road will
enable small local firms to participate in the program, creating
much needed jobs and expertise.

The construction of the new bridges, which will demand an
investment of US4.5 million, constitutes the first phase to
improve direct access to Miragoane from Petit Trou de Nippes and
from RN2, a key highway that was blocked after last year’s
hurricanes and tropical storms.

A US$2.8 million portion of the grant will be used for road
maintenance activities, including technical assistance for local
district offices of the Public Works Ministry, the acquisition of
maintenance equipment and for maintenance work.  These activities
will bolster the first steps of a general road maintenance
strategy launched by Haitian authorities.

The funds, to be disbursed over a three-year period (2010-2012),
will come from the IDB's Grant Facility Financing.  The overall
program also benefits from a C$75 million donation from the
Canadian International Development Agency, which is supporting the
rehabilitation of 71 kilometers of the Cayes-Jeremie road.

IDB is financing a broad range of programs in Haiti, with an
emphasis on basic infrastructure. This program constitutes more
than half of the Bank’s financing for road improvement and road
maintenance.


* HAITI: Foreign Investors Flock to Explore New Business
--------------------------------------------------------
In an unprecedented event, hundreds of foreign and Haitian private
sector representatives gathered here to explore opportunities in
key economic sectors for Haiti, including garment manufacturing,
sustainable energy production and agribusiness.

The international business meeting was organized by the Inter-
American Development Bank, the largest multilateral donor
operating in Haiti, with financial support from the Canadian
government and the backing of the Haitian government and the
United Nations special envoy for Haiti, President Bill Clinton.

More than 500 private sector participants attended the meeting,
plus 150 officials and delegates from non-governmental
institutions.  Representatives from large U.S., Canadian,
Dominican, Brazilian and Colombian corporations, among others,
were present, underscoring Haiti’s increased stability and
improved outlook.

“For too long Haiti has been seen as a land of missed
opportunities,” said IDB President Luis Alberto Moreno.  “I
believe Haiti is now ready and able to attract private
investments.”

While the largest foreign delegation came from the United States,
the event was of hemispheric proportions.  The largest Latin
American delegation arrived from the neighboring Dominican
Republic, but Brazil, Colombia and Canada contributed numerous
participants.  All told, potential foreign investors from 14
countries registered for the event.

“Even a few a years ago I could not have imagined an event like
this here in Port-au-Prince,” said President Clinton.  “But
today's event, with hundreds of international businesspeople,
highlights the significant opportunities that exist in Haiti to
create jobs, increase incomes and enhance the growth of the
private sector.”

In her welcoming remarks, Prime Minister Michele Duvivier Pierre-
Louis told the visitors: “Haiti is open for business. We in
government are doing our share.  We are ready and willing to work
with all of you to achieve success but time is of the essence.”

With IDB assistance, the Haitian government has established a
national committee on competitiveness, including private sector
representatives, to identify bottlenecks and improve the business
environment.

Haiti is also investing heavily in upgrading its road network to
reduce travel time between its main cities, as well as to increase
the reliability of electricity services.  The government has also
cut the time to start a new business by more than half.

The IDB’s private sector strategy rests on two pillars: making
Haiti more competitive and targeting sectors that generate jobs.
Agribusiness, sustainable energy and garment manufacturing have
been identified as sectors with strong potential to generate jobs.

At the meeting, the IDB announced:

    * A $2 million a special fund to provide assistance for
      the garment sector put together by the IDB’s
      Multilateral Investment Fund, with more entities
      expected to invest in the undertaking.

    * A $150,000 grant to examine the viability of an
      industrial park model for the garment industry.

Garments bring the country US130 million in net exports and
generate about 25,000 jobs, with a potential to increase this
five-fold with the HOPE II Act, which provides Haitian apparel
exports duty-free access to the U.S. market.

Agriculture is another sector that holds promise.  Investments in
processing facilities and reducing logistical bottlenecks by
improving rural roads could help Haiti more than double its mango
exports.  Fruits and essential oils represent $20 million in
exports annually, which could be boosted to hundreds of millions.

Haiti has potential to develop several clean and sustainable
energy sources, including wind and solar power.  Regarding
biofuels and biomass, there are more than 500,000 hectares of arid
and semi-arid land where hardy, soil-fixing crops could be grown.

                        Haiti and the IDB

The bulk of IDB’s portfolio of more than US$700 million in soft
loans and grants for Haiti is going into basic infrastructure,
agriculture, disaster prevention, water and sanitation, education,
electricity and state modernization.

The IDB invests in strengthening the Haitian government's
operational capacity so the country can work on more development
programs.  Until a couple of years ago, Haiti was absorbing about
US$60 million in annual IDB disbursements. Last year the IDB
disbursed US$125 million.


=============
J A M A I C A
=============


NATIONAL COMMERCIAL BANK: Invests JM$2MM in Jamaica Netball Ass.
----------------------------------------------------------------
National Commercial Bank Jamaica Limited disclosed a JM$2million
investment in the Jamaica Netball Association’s Sunshine Series to
be held in October.

“The Sunshine Girls are world-class athletes and are consistently
at the top of the world rankings.  They deserve strong support to
showcase their skills and to continue to inspire our youth.  We
are sure that our Sunshine Girls will continue to make us proud
and we urge everyone to support the NCB Sunshine Series and cheer
on our netball team” remarked Charmaine Wright, Marketing Manager
of NCB Consumer Services

The series will see Jamaica’s senior team facing off against top
flight netball teams Australia and New Zealand at the National
Indoor Sports Centre.  Jamaica will play Australia on October 17
and 18 and New Zealand on October 20 and 22.  To add to the
excitement of the netball matches, NCB will also be hosting a
pre-game show on each night, which will include performances by
the Digicel Rising Stars finalists.  During half-time NCB will
continue to provide entertainment with performances by high school
cheerleading teams as well as giveaways from other sponsors.

With NCB’s injection of sponsorship, the Jamaica Netball
Association has promised to deliver four evenings of exciting
international netball at the National Indoor Sports Centre.  This
is the second year that NCB has sponsored the event and is a part
of their commitment to support sports and showcase excellence.
Ms. Wright continued “NCB is pleased continue their support of
Jamaica’s netballers and to allow all lovers of the sport to enjoy
matches at an international level at home.”

                          About NCB Jamaica

Headquartered in Kingston, Jamaica, the National Commercial Bank
Jamaica Limited -- http://www.jncb.com/-- provides commercial
and retail banking, wealth management services.  The company's
services include personal banking, business banking, mortgage
loans, wealth management and insurance services.  Founded in
1977, the bank primarily operates in West Indies and the U.K.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 10, 2009, Standard & Poor's Ratings Services said that it
lowered its long-term ratings on National Commercial Bank Jamaica
Ltd., including the counterparty credit rating, to 'CCC+' from
'B-'.  At the same time, S&P lowered its survivability assessment
on NCB to 'B+' from 'BB+'.  The outlook is negative.

Fitch said the ratings have a stable rating outlook.


JAMAICA PUBLIC SERVICE: 1% to 5% Tariff Adjustment Takes Effect
---------------------------------------------------------------
Jamaica Public Service Company Limited's tariff adjustment, which
the Office of Utilities Regulation granted, took effect at
September 30, 2009, RadioJamaica reports.

According to the report, the company's customers will now pay from
1% to 5% more on their monthly bills which is far less than what
the company was seeking.  The report relates that under the new
tariff regime, the cost of electricity will range from 1.1% for
consumers at the lowest end of the consumption band, to a high of
5.4%.

RadioJamaica notes that the fuel charge portion of customers'
bills will continue to be calculated each month on the basis of
the total amount of fuel which is deemed to have been consumed by
JPS and Independent Power Producers.

As reported in the Troubled Company Reporter-Latin America on
September 30, 2009, Gleaner Power 106 News said that Opposition
spokesman on energy Philip Paulwell said that JPSCO should
implement immediately several policy changes to increase its
efficiency.  The report relates that Mr. Paulwell said JPSCO
should also consider getting rid of its archaic equipment.

                            About JPSCO

Headquartered in Kingston, Jamaica -- https://www.jpsco.com --
Jamaica Public Service Company Limited is an integrated electric
utility company and the sole distributor of electricity in
Jamaica.  The company is engaged in the generation, transmission
and distribution of electricity, and also purchases power from
five Independent Power Producers.  Japanese-based Marubeni
Corporation owns 80 percent of the company.  The Government of
Jamaica and a small group of minority shareholders own the
remaining shares.  JPS currently has roughly 582,000 customers who
are served by a workforce of over 1,600 employees.  The Company
owns and operates 28 generating plants, 54 substations, and
roughly 14,000 kilometers of distribution and transmission lines.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 9, 2009, Radio Jamaica said JPSCO may shutdown its
operations if the company fails to settle a long-standing dispute
over outstanding payments to employees.  The same report said
employees unions contended the payments are owed for overtime work
and redundancy adjustments from 2001 to 2007, which amounts to
about JM$600 million.


* JAMAICA: Extends Key Highway Network With US$70MM Loan From IDB
-----------------------------------------------------------------
A US$70 million private sector loan will help concessionaire build
17 km of inter-urban highway as well as refinancing of existing
indebtedness of TJH

The Inter-American Development Bank approved a US$70 million loan
to the private sector Transjamaican Highway Ltd. for the expansion
and upgrade of the Transjamaican Highway project, a network of
world-class motorways linking the capital city of Kingston with
its western suburbs and central regions of the island.  The
shareholders of the Project are Bouygues Travaux Publics and
Autoroutes du Sud de France.

The Bank's long-term, private sector funding will play an
important role in the development of Jamaica by helping the toll
road concessionaire, Transjamaican Highway Ltd., build an
additional 17-kilometer  section between Sandy Bay and Four Paths
as well as allow the Company to refinance existing indebtedness
coming due in the next few years.

Once complete, the Transjamaican Highway Project will reduce
travel times, lower vehicle operating costs and enhance
transportation safety.  The expansion works to be funded by the
Bank and its co-lenders will provide economic stimulus for Jamaica
given its direct and indirect impact on local employment levels.

The loan is part of a larger financing package for TJH including
support from major international development finance institutions.
The project represents a coordinated response among these entities
to support a priority infrastructure program of the Jamaican
government.

                           *     *     *

According to Moody's Web site, the country continues to hold
a B1 foreign currency rating and a Ba2 local currency rating.


===========
M E X I C O
===========


CASA DE BOLSA: Moody's Assigns 'B2' Currency Issuer Ratings
-----------------------------------------------------------
Moody's Investors Service assigned its long and short-term B2/Not
Prime global local currency issuer ratings to Casa de Bolsa
Multiva, S.A. de C.V.  On its Mexican National Scale, Moody's de
Mexico assigned a Baa3.mx long term and MX-3 short term issuer
ratings.  All these ratings have stable outlooks.

The ratings on CB Multiva reflect the broker's long track record
and important brand name in the Mexican securities industry, as
well as its low-risk business mix derived from a customer-driven
agency business.  The company is run under conservative guidelines
and management provides a vast experience in the securities
industry -- factors that underpin the ratings.  Moreover, the
potential for synergies with other entities of Grupo Financiero
Multiva and its economic conglomerate Grupo Empresarial Angeles
are also positive rating considerations.

At the same time, the ratings assigned to CB Multiva reflect the
company's small absolute size and limited market share, as well as
the challenges posted by a highly competitive industry,
particularly in light of the modest array of products and services
offered relative to more diversified players.  More important to
the ratings is the fact that the company is challenged to improve
on its performance and to generate more stable pre-tax earnings
and ultimately recurrent net income -- a factor that raises
concerns about the broker's ability to absorb losses and generate
capital going forward.

Moody's cited that CB Multiva's B2 global local currency issuer
rating is consistent with its baseline credit assessment of B2,
and as such does not incorporate parental support.  Moody's,
however, recognizes that CB Multiva benefits from being part of
GFMultiva, where particularly it shares infrastructure,
distribution capacity and client base with Banco Multiva.

The long-term Mexican National Scale rating of Baa3.mx indicates
issuers or issues with average creditworthiness relative to other
domestic issuers.  The short-term Mexican National Scale rating of
MX-3 indicates that the issuer has an average ability to repay
short-term senior unsecured debt obligations relative to other
domestic issuers.

CB Multiva is headquartered in Mexico City.  As of June 2009, CB
Multiva had around Mx$155 million in equity.

These issuer ratings were assigned to Casa de Bolsa Multiva, S.A.
de C.V.:

  -- Global local currency, long term: B2, stable outlook
  -- Global local currency, short term: Not-Prime
  -- Mexican National Scale, long term: Baa3.mx, stable outlook
  -- Mexican National Scale, short term: MX-3


CEMEX SAB: Completes Sale of Australian Operations
--------------------------------------------------
CEMEX, S.A.B. de C.V. has completed the previously announced sale
of its Australian operations to Holcim Group.

The proceeds from this sale are approximately AU$2.02 billion
(approximately US$1.7 billion) and will be used to reduce debt and
to strengthen CEMEX’s liquidity position.

This asset divestment marks another milestone in CEMEX’s efforts
to regain its financial flexibility; these include the refinancing
of US$15 billion dollars of debt and the global offering of 1.495
billion Ordinary Participation Certificates (CPOs), including the
over-allotment option, with estimated net proceeds of US$1.782
billion.

CEMEX, S.A.B. de C.V. is a Mexican corporation, a holding company
of entities which main activities are oriented to the construction
industry, through the production, marketing, distribution and sale
of cement, ready-mix concrete, aggregates and other construction
materials.  CEMEX is a public stock corporation with variable
capital (S.A.B. de C.V.) organized under the laws of the United
Mexican States, or Mexico.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 19, 2009, Fitch Ratings has affirmed these ratings of
Cemex, S.A.B. de C.V.:

  -- Foreign currency Issuer Default Rating at 'B';

  -- Local currency IDR at 'B';

  -- Long-term national scale rating at 'BB-(mex)';

  -- MXN5 billion Certificados Bursatiles program at 'BB- (mex)';

  -- MXN30 billion Programa Dual Revolvente de Certificados
     Bursatiles program at 'BB-(mex)';

  -- Senior unsecured debt obligations at 'B+/RR3';

  -- Unsecured debt issued through the Certificados Bursatiles
     program at 'BB-(mex)';

  -- Short-term national scale rating at 'B (mex)';

  -- MXN2.5 billion short-term portion of Programa Dual Revolvente
     de Certificados Bursatiles program at 'B (mex)'.


GRUMA SAB: Extends Derivatives, Loan Deadline To October 1
----------------------------------------------------------
Gruma, S.A.B. de C.V. has agreed with creditors to extend to
October 1 the deadline for closing deals to refinance a syndicated
bank loan and settle US$738.3 million in derivatives liabilities,
Ken Parks at Dow Jones Newswires reports.  The report relates that
the company said it is wrapping up the documentation process to
swap foreign exchange derivatives debt into bank loans.

According to the report, the company also said it's putting the
finishing touches on documentation to refinance a five-year
syndicated loan for US$197 million, with the deal in the final
stages of authorization at the participating banks.

The deadline extension is the fourth for Gruma.

As reported in the Troubled Company Reporter-Latin America on
July 29, 2009, Bloomberg News noted that Gruma SAB said it has
extended to August 24 the deadline for completing debt
negotiations with counterparties of US$727 million in derivatives
trades.  The report related that the company had previously asked
banks for the same extension talks dated July 24.  Anthony Harrup
at Dow Jones Newswires reported that the agreements seek to swap
the derivatives debts into a series of medium-and long-term loans,
which include accords to exchange:

   -- US$13.9 million in derivatives liabilities with
      the Royal Bank of Scotland Group PLC,

   -- US$22.9 million with Standard Chartered Bank
      PLC (SCZ.ZM),

   -- US$21.5 million with Barclays PLC for three-year
      loans, and

   -- another to swap US$668.3 million in currency losses
      with Credit Suisse Group, Deutsche Bank AG and
      JPMorgan Chase & Co. for a 7.5-year loan.

Reuters added that the company, citing a statement to the Mexico
Stock Exchange, said Gruma SAB needs to successfully refinance a
5-year revolving credit line with Bancomer and a 3.4 billion-peso
loan from government export bank Bancomext in order to sign on to
a long-term payment plan.

                        About Gruma, S.A.B.

Headquartered in Monterrey, Mexico, Gruma, S.A.B. de C.V. --
http://www.gruma.com-- is a corn flour and tortilla producer and
distributor.  The company conducts its U.S. and European
operations principally through its subsidiary, Gruma Corporation,
which manufactures and distributes corn flour, packaged tortillas,
corn chips and related products.  As of Dec. 31, 2007, Gruma held
approximately 8.62 % of the capital stock of Grupo Financiero
Banorte, S.A.B. de C.V.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 30, 2009, Standard & Poor's Ratings Services said that its
ratings on GRUMA S.A.B. de C.V., including its 'B+' corporate
credit rating, remain on CreditWatch with negative implications,
where they were placed on Oct. 13, 2008.  S&P based that action on
its perception of GRUMA's more aggressive financial policy,
including the use of derivative instruments.


===============================
T R I N I D A D  &  T O B A G O
===============================


CL FINANCIAL: Republic Bank Drops Lending Rate
----------------------------------------------
Rory Rosant of Trinidad and Tobago Newsday reports that Republic
Bank Managing Director David Dulal Whiteway said the lowering of
the bank’s lending rates to 9.9%, down from a high of 13%, was
designed to give borrowers some more leg room.  “Our intention is
that it will create business activity in the short term, but for
borrowing customers it should help their cash flow which has
gotten tighter as the economy slowed,” the report quoted Mr.
Whiteway as saying.

According to the report, the rate decrease of the bank's prime
lending rate will take effective October 5.   The report relates
Mr. Whiteney said he wants to see interest rates go down to single
digits.  “In anticipation of further reduction in inflation and
repo rate, we decided to give customers the benefit,” the report
quoted Mr. Whiteney as saying.  Instead of a half percent
reduction in tandem with the reduced repo rate, the decision was
taken to go down a full 1%, Mr. Whiteney added.

CL Financial's unit, Clico Investment Bank (CIB)/ Colonial Life
Insurance Company Limited has a 55% stake in Republic Bank.

CL Financial Limited is a privately held conglomerate in Trinidad
and Tobago.  Founded as an insurance company, Colonial Life
Insurance Company by Cyril Duprey, it was expanded into a
diversified company by his nephew, Lawrence Duprey.  CL Financial
is now one of the largest local conglomerates in the region,
encompassing over 65 companies in 32 countries worldwide with
total assets standing at roughly US$100 billion.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Tobago
President George Maxwell Richards signed bailout bills for CL
Financial, giving the government the authority to control the
company's unit, Colonial Life Insurance Company, and giving the
central bank extensive powers to treat with CL Financial's
collapse and the consequent systemic crisis.


===============
X X X X X X X X
===============


LATAM: To Receive US$250 Million for Microfinance
-------------------------------------------------
The Inter-American Development Bank’s Multilateral Investment
Fund, the U.S. government’s Overseas Private Investment
Corporation, the Inter-American Investment Corporation, the
Corporacion Andina de Fomento, the Swiss microfinance investment
management company BlueOrchard Finance S.A., and international
investors signed an agreement to establish the Microenterprise
Growth Facility, a new source of lending intended to provide up to
US$250 million in financing to microfinance institutions in Latin
America and the Caribbean.

The Microenterprise Growth Facility seeks to rebuild the lending
capacity of microfinance institutions in the region, responding to
the contraction in sources of funding caused by the global
financial crisis.

U.S. President Barack Obama announced the initiative last April,
at the Fifth Summit of the Americas in Port of Spain, Trinidad,
saying that OPIC and the IDB would partner to launch a new source
of funding for microfinance institutions in response to the
reduction in their lending capacity due to the global credit
crisis.

Following the memorandum of understanding signed at the
Microenterprise Forum, and pending approval by its Board of
Directors, OPIC will provide a loan of up to US$125 million to the
new facility.  Proceeds of the OPIC loan, along with equity
contributions from the other partners, will be used to make loans
to microfinance institutions in Latin America, and they, in turn,
will be able to expand their lending activity to thousands of
microenterprises throughout the region.

MIGROF intends to offer medium- and long-term financing both in
local currency and in U.S. dollars, targeting 35% of the total
financing to be provided in local currencies.  It is expected to
begin its lending activity in early 2010.

The IDB, through the MIF, took a leading role in structuring the
new facility, committing a US$10 million equity investment.  The
MIF and the IIC also worked on defining the lending strategy and
conducted the competitive process by which Blue Orchard, the
world’s largest fund manager specializing in microfinance, was
selected to manage the new facility.  The IIC may also participate
in MIGROF.

IDB President Luis Alberto Moreno signed the agreement on behalf
of MIF and the IIC.  Alexis Ludwig, political counselor of the
U.S. Embassy in Lima, signed on behalf of OPIC.  Other signing
partners include ACCION International, Corporacion Andina de
Fomento, FONIDI S.E.C/Gestion Fonidi inc., Norwegian Microfinance
Initiative Global Fund KS, and the Dutch development agency FMO.

"Microfinance in Latin America and the Caribbean has achieved a
great deal, especially over the last decade”, said Mr. Moreno.

“However, we need to remember that approximately 60 million
microentrepreneurs in this region remain without access to
finance.  This new facility will allow microfinance institutions
to recapture their capacity to lend, and provide an engine of
growth for the region as they reach out to this unserved
population," Mr. Moreno said.

“Microfinance’s rapid growth has been interrupted by the global
financial crisis, slowing lending activity and putting portfolios
at risk,” said OPIC Acting President Dr. Lawrence Spinelli.  “As
economic recovery takes hold, MFIs’ portfolio growth is expected
to resume - and this new source of finance will support that
growth throughout Latin America. OPIC is extremely pleased to
partner with the IDB and the fund’s co-sponsors to support
President Obama’s announcement,” Mr. Spinelli said.

"Strong microfinance institutions play a critical role in helping
attack poverty and inequality while boosting job creation,” said
U.S. Secretary of the Treasury Timothy Geithner.  “I commend the
work of OPIC and the IDB in establishing the Microfinance Growth
Facility that President Obama announced at the Summit of the
Americas in April.   As economic recovery takes hold, this source
of financing will help empower small entrepreneurs across the
region," Mr. Geithner said.


* BOND PRICING: For the Week October 28 to October 2, 2009
----------------------------------------------------------


Issuer                Coupon    Maturity    Currency    Bid Price
-------               ------    --------    --------    ---------


ARGENTINA

ALTO PALERMO SA         7.88     5/11/2017    USD            74.39
ARGENT-$DIS             8.28     12/31/2033   USD            62.45
ARGENT-$DIS             8.28     12/31/2033   USD            68.16
ARGENT-PAR              1.18     12/31/2038   ARS            31.43
ARGENT-=DIS             7.82     12/31/2033   EUR            57.43
ARGNT-BOCON PR13           2     3/15/2024    ARS            60.28
ARGNT-BOCON PRE8           2     1/3/2010     ARS            15.92
AUTOPISTAS DEL S        11.5     5/23/2017    USD               40
BANCO MACRO SA          9.75     12/18/2036   USD            74.25
BANCO MACRO SA         10.75     6/7/2012     USD             65.1
BODEN 2015                 7     10/3/2015    USD             73.9
BUENOS AIRE PROV        9.63     4/18/2028    USD            57.59
BUENOS AIRE PROV        9.38     9/14/2018    USD            58.56
BUENOS-$DIS             9.25     4/15/2017    USD            65.54
CIA LATINO AMER         9.75     5/10/2012    USD            73.63
INDUSTRIAS METAL       11.25     10/22/2014   USD            73.13
MASTELLONE HERMA           8     6/30/2012    USD            51.87
MENDOZA PROVINCE         5.5     9/4/2018     USD            70.29
MULTICANAL SA              7     7/20/2013    USD               73
TRANSENER               8.88     12/15/2016   USD             78.5


BRAZIL

CESP                    9.75     1/15/2015    BRL            66.16
REDE EMPRESAS          11.13     #N/A N Ap    USD            70.95


CAYMAN ISLAND

AIG SUNAMERICA          6.38     10/5/2020    GBP            84.71
BARION FUNDING          1.44     12/20/2056   GBP            30.74
BARION FUNDING          0.25     12/20/2056   USD             7.09
BARION FUNDING          0.25     12/20/2056   USD             7.09
BARION FUNDING          0.25     12/20/2056   USD             7.09
BARION FUNDING          0.25     12/20/2056   USD             7.09
BARION FUNDING          0.25     12/20/2056   USD             7.09
BARION FUNDING           0.1     12/20/2056   EUR             8.19
BARION FUNDING          0.25     12/20/2056   USD             7.15
BARION FUNDING          0.63     12/20/2056   GBP            17.43
BES FINANCE LTD          6.2     2/7/2035     EUR            65.36
CHINA MED TECH             4     8/15/2013    USD             65.5
CHINA PROPERTIES        9.13     5/4/2014     USD            73.38
CHINA SUNERGY           4.75     6/15/2013    USD            61.81
FERTINITRO FIN          8.29     4/1/2020     USD               65
GOL FINANCE             8.75     #N/A N Ap    USD               83
LDK SOLAR CO LTD        4.75     4/15/2013    USD               71
MALACHITE FDG           0.63     12/21/2056   EUR            21.88
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.18
MAZARIN FDG LTD          0.1     9/20/2068    EUR             5.02
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.18
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.24
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.18
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.18
MAZARIN FDG LTD         0.25     9/20/2068    USD             5.18
MAZARIN FDG LTD         0.63     9/20/2068    GBP             14.4
MAZARIN FDG LTD         1.44     9/20/2068    GBP             28.2
PUBMASTER FIN           8.44     6/30/2025    GBP            71.88
PUBMASTER FIN           6.96     6/30/2028    GBP            64.61
SHINSEI FIN CAYM        6.42     #N/A N Ap    USD            52.89
SHINSEI FINANCE         7.16     #N/A N Ap    USD            51.56
XL CAPITAL LTD           6.5     #N/A N Ap    USD             72.5


ECUADOR

REP OF ECUADOR          9.38     12/15/2015   USD            87.28


JAMAICA

JAMAICA GOVT             8.5     2/28/2036    USD               74
JAMAICA GOVT           13.38     4/27/2032    JMD            61.17
JAMAICA GOVT LRS        14.4     8/3/2027     JMD            67.64
JAMAICA GOVT LRS        15.5     3/24/2028    JMD            70.88
JAMAICA GOVT LRS          15     8/30/2032    JMD            70.44
JAMAICA GOVT LRS       16.25     7/26/2032    JMD            74.28
JAMAICA GOVT LRS          16     12/6/2032    JMD            73.11
JAMAICA GOVT LRS          15     9/6/2032     JMD            65.21
JAMAICA GOVT LRS          14     6/30/2021    JMD            69.28
JAMAICA GOVT LRS          15     11/15/2021   JMD            73.06
JAMAICA GOVT LRS       13.38     12/15/2021   JMD            65.49
JAMAICA GOVT LRS       12.85     5/31/2022    JMD            62.17
JAMAICA GOVT LRS       12.75     6/29/2022    JMD            61.55
JAMAICA GOVT LRS       12.75     6/29/2022    JMD            61.56
JAMAICA GOVT LRS       13.58     12/15/2026   JMD            62.05
JAMAICA GOVT LRS       16.25     5/22/2027    JMD            74.31
JAMAICA GOVT LRS       16.25     6/18/2027    JMD            72.67


PUERTO RICO

DORAL FINL CORP            7     4/26/2012    USD            56.88
DORAL FINL CORP          7.1     4/26/2017    USD            47.63
DORAL FINL CORP         7.15     4/26/2022    USD            40.63
DORAL FINL CORP         7.65     3/26/2016    USD            50.75


VENEZUELA

PETROLEOS DE VEN         5.5     4/12/2037    USD            46.56
PETROLEOS DE VEN        5.25     4/12/2017    USD            61.54
PETROLEOS DE VEN        5.38     4/12/2027    USD            47.75
VENEZUELA               7.65     4/21/2025    USD            66.12
VENEZUELA               9.25     5/7/2028     USD            75.41
VENEZUELA                  7     3/31/2038    USD            59.29
VENEZUELA                  9     5/7/2023     USD            74.94
VENEZUELA                  6     12/9/2020    USD            60.51
VENEZUELA               5.75     2/26/2016    USD            73.44
VENEZUELA                  7     3/16/2015    EUR            71.47
VENEZUELA                  7     12/1/2018    USD             70.4


                            ***********

Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual
trades.  Prices for actual trades are probably different.  Our
objective is to share information, not make markets in publicly
traded securities.  Nothing in the TCR-LA constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-LA editor holds
some position in the issuers' public debt and equity securities
about which we report.

Tuesday's edition of the TCR-LA features a list of companies
with insolvent balance sheets obtained by our editors based on
the latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

                            ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravente, Rousel Elaine C.
Tumanda, Valerie C. Udtuhan, Frauline S. Abangan, and Peter A.
Chapman, Editors.


Copyright 2009.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Christopher Beard at 240/629-3300.


           * * * End of Transmission * * *